The fund was established by Agency for Innovation and Digital Development under the Ministry of Digital Development and Transportation of Azerbaijan and Azerbaijan’s Pasha Holding group of companies.
The fund's budget is 11.3 million manat ($6.6 million). Agency for Innovation and Digital Development and Pasha Holding allocated 5 million manat ($2.9 million), each of them, to the budget of the fund, and individual entrepreneurs allocated 1.3 million manat ($764,000).
Nabiyev emphasized that it is planned to create a special zone for the development of start-ups in Azerbaijan.
"The relevant document has already been prepared and is being discussed in government. We expect it to be adopted by the end of 2022," Nabiyev said.
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